Shares of electric vehicle maker Lightning eMotors, Inc. (ZEV) are up more than 4% Monday morning on the news of its deal with Coulomb Solutions, Inc. (CSI), a distributor of Chinese battery maker Contemporary Amperex Technology Co. Limited (CATL).
The 2-year agreement with Coulomb Solutions is to purchase 175 megawatt-hours of CATL battery products.
The company expects Vehicle production with CATL packs to begin in March 2022.
"CATL has a proven lineup of battery pack configurations that will provide us with additional flexibility for our wide range of medium- and heavy-duty zero-emission commercial electric vehicles," said Chelsea Ramm, Lightning eMotors' vice president of global supply chain.
ZEV is at $6.42. It has traded in the range of $5.84- $17.36 in the last 52 weeks.
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May 01, 2026 15:54 ET Central banks dominated the economics news flow this week with almost all major ones announcing their latest policy decisions and many boosted expectations for a rate hike in June. In other news, several countries released the preliminary data for first quarter economic growth. In the U.S., comments by Fed Chair Jerome Powell were also in focus as his term ends this month.